04:50 PM EDT, 07/09/2025 (MT Newswires) -- (Corrects currency in fourth paragraph to U.S. dollars.)

Jaguar Mining ( JAGGF ) after close of trading Wednesday said second-quarter gold production fell 37% after temporarily shutting in its Turmalina mine in December as it looks for a restart of operations at the site.

The company said it produced 10,793 ounces of gold in the quarter, down from 17,244 ounces in the year prior quarter. Gold sales fell to 10,986 ounces, down from 19,021 a year earlier.

The drop comes following the suspension of production at Turmalina, part of the company's MTL complex in Brazil, following the partial collapse of a tailings pile. The company said it is working with regulators to restart operations but does not expect work to be complete before the first quarter of 2026.

"Financially, our cash position strengthened to US$48.3 million as of June 30, representing an increase from the prior quarter, supported by favorable gold prices which averaged US$3,264 per ounce," said chief executive Vern Baker. "These results reflect continued efforts to maintain operational stability and financial resilience during a period of transition."

Jaguar shares closed up $0.04 to $3.72 on the Toronto Stock Exchange.